Australia Edition 5 LG
THE MARKET Never before has technology been such an important aspect of our modern, on-the-go lives. For this reason, the Consumer Electronics industry is fast-paced and highly competitive. At present, the market is experiencing rapid growth across most categories, in particular in Visual Entertainment, which alone is valued at more than A$3 billion. Next generation consumer products from LG will address the social and environmental issues Australians face including water and energy efficiency, the trend toward inner city apartment living, and ever increasing working hours. Consumers are naturally seeking products that make the user experience as simple, convenient, stylish and personalised as possible. ACHIEVEMENTS LG Electronics is a global leader in providing cutting-edge, convergent electronics, information and communications products designed to meet the ever changing needs of consumers. LG’s point of differentiation is its in-depth insight into consumer trends coupled with the technical superiority of its products. The Korean based company operates four business units globally including Mobile Communications, Digital Appliance, Digital Display and Digital Media. 2007 is the year that the LG brand celebrates its ten years of operation in the Australian market. From relative obscurity ten years ago, LG has repositioned itself as a premium brand in Australia, and in the process achieved number one in seven product categories, including plasma televisions,
LCD televisions, home theatre and DVD recorders, microwaves, front load washers and side-by-side refrigeration. Over the past decade, LG Electronics has grown to achieve annual sales turnover in excess of $1 billion dollars. For ten years LG has strived to develop and bring to market a range of innovative products with leading edge technology that make ‘Life Good’. This philosophy has seen the organisation and the brand achieve many milestones and build a loyal following. HISTORY Formed in 1947 by the Koo and Huh families, Lucky-Goldstar started out selling face creams, and quickly grew to become dominant in the national chemical manufacturing business. In 1958, Lucky-Goldstar entered the electronics industry with the formation of Goldstar Co and in 1959, Goldstar became the first Korean company to build a radio. It rapidly expanded during the 1960s, branching out into the manufacture of appliances. It built the first Korean refrigerator in 1965, and the first Korean television in 1966. It subsequently began the manufacture of elevators and escalators, air conditioners, electric typewriters, and other electronic goods. Goldstar gradually earned a reputation as a supplier of low-cost, high-quality electronic components and appliances and in the 1980s established a solid presence in domestic and international markets for microwave ovens and televisions, as well as for refrigerators, washing machines, and other major appliances. In 1989, after a series of financial, management and labour woes, drastic measures to turn the ailing
Lucky-Goldstar around saw control being handed to Lee Hun-Jo, a 27-year LuckyGoldstar veteran. By 1994 Goldstar had regained its number one position in the South Korean market for colour televisions, refrigerators and washing machines. Likewise, Goldstar was achieving marked gains overseas by focusing on emerging markets like Russia and Vietnam while at the same time increasing North American sales through overseas manufacturing and partnerships with U.S. companies. In 1995, the company abandoned the LuckyGoldstar name and adopted a new corporate name, LG Electronics and the slogan “Life’s Good” to secure a strong, distinctive corporate identity. The change in identification assisted the company in entering the premium, higher scale market. In 1997 the LG Electronics brand was launched in Australia. The new millennium has seen LG drive innovation, style and digital capabilities in the industry. LG launched the world’s first internet refrigerator in 2000, and in 2001 followed with the world’s first internet enabled washing machine, airconditioner, and microwave oven. The first model in LG’s Black Label series of premium handsets LG Chocolate was introduced in 2006 and sold 7.5million units world wide. In 2007, LG launched the industry-first dual-format highdefinition disc player and drive. With consolidated sales of US$37.7 billion and overseas sales of US$ 32.6 billion (86% of total sales), LG is truly a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in over 110 operations including 81 subsidiaries around the world. THE PRODUCTS LG’s extensive range consists of products engineered and designed to make ‘life good’. During its ten years in the local market LG has almost doubled its product offering to Australian consumers. With expertise in mobile and convergent technologies, LG’s product offering includes LG Mobile phones with a design focused range – ‘The Black Label Series’ including world first ‘touch screen’ technology. LG also caters for major appliances and entertainment technology in almost every room of the home including a wide range of Plasma, LCD
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LCD televisions, home theatre and DVD recorders, microwaves, front load washers and side-by-side refrigeration. Over the past decade, LG Electronics has grown to achieve annual sales turnover in excess of $1 billion dollars. For ten years LG has strived to develop and bring to market a range of innovative products with leading edge technology that make ‘Life Good’. This philosophy has seen the organisation and the brand achieve many milestones and build a loyal following. HISTORY Formed in 1947 by the Koo and Huh families, Lucky-Goldstar started out selling face creams, and quickly grew to become dominant in the national chemical manufacturing business. In 1958, Lucky-Goldstar entered the electronics industry with the formation of Goldstar Co and in 1959, Goldstar became the first Korean company to build a radio. It rapidly expanded during the 1960s, branching out into the manufacture of appliances. It built the first Korean refrigerator in 1965, and the first Korean television in 1966. It subsequently began the manufacture of elevators and escalators, air conditioners, electric typewriters, and other electronic goods. Goldstar gradually earned a reputation as a supplier of low-cost, high-quality electronic components and appliances and in the 1980s established a solid presence in domestic and international markets for microwave ovens and televisions, as well as for refrigerators, washing machines, and other major appliances. In 1989, after a series of financial, management and labour woes, drastic measures to turn the ailing
Lucky-Goldstar around saw control being handed to Lee Hun-Jo, a 27-year LuckyGoldstar veteran. By 1994 Goldstar had regained its number one position in the South Korean market for colour televisions, refrigerators and washing machines. Likewise, Goldstar was achieving marked gains overseas by focusing on emerging markets like Russia and Vietnam while at the same time increasing North American sales through overseas manufacturing and partnerships with U.S. companies. In 1995, the company abandoned the LuckyGoldstar name and adopted a new corporate name, LG Electronics and the slogan “Life’s Good” to secure a strong, distinctive corporate identity. The change in identification assisted the company in entering the premium, higher scale market. In 1997 the LG Electronics brand was launched in Australia. The new millennium has seen LG drive innovation, style and digital capabilities in the industry. LG launched the world’s first internet refrigerator in 2000, and in 2001 followed with the world’s first internet enabled washing machine, airconditioner, and microwave oven. The first model in LG’s Black Label series of premium handsets LG Chocolate was introduced in 2006 and sold 7.5million units world wide. In 2007, LG launched the industry-first dual-format highdefinition disc player and drive. With consolidated sales of US$37.7 billion and overseas sales of US$ 32.6 billion (86% of total sales), LG is truly a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in over 110 operations including 81 subsidiaries around the world. THE PRODUCTS LG’s extensive range consists of products engineered and designed to make ‘life good’. During its ten years in the local market LG has almost doubled its product offering to Australian consumers. With expertise in mobile and convergent technologies, LG’s product offering includes LG Mobile phones with a design focused range – ‘The Black Label Series’ including world first ‘touch screen’ technology. LG also caters for major appliances and entertainment technology in almost every room of the home including a wide range of Plasma, LCD
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